Working with IDOI Yields Favorable Results for RBE Clients
By: J. Mark McKinzie — RBE Partner
The second quarter of 2023 resulted in Riley Bennett Egloff obtaining two significant results for separate clients of our Firm, working through and with the Indiana Department of Insurance (IDOI) on both occasions.
Providing Competitive Access to Significant Capital
In response to a growing need for smaller Farm Mutual companies to have competitive access to significant capital to either grow or strengthen their deployed capital needs, a long-standing client asked for our assistance. The client relied on RBE to advocate for them in achieving their business goals. We worked with the client to develop a strategy with a view to obtaining the IDOI’s ultimate necessary approval of a program to augment smaller companies’ capital needs. A draft of the proposed documents was submitted to the IDOI. With input from the IDOI, appropriate controls allowing for the IDOI’s oversight were agreed to, the necessary documents were approved, and Order of Approval entered by the Insurance Commissioner.
Appealing the Denied Renewal of Resident Producer License
A newly referred client had his resident producer license renewal application initially denied by the IDOI. He asked us to assist him in appealing this decision to an Administrative Law Judge. Following a review of the available documents, we agreed to represent him. The administrative review was done following our securing an expedited and in-person administrative law hearing within 30 days of the denial. At the hearing, after evidence was presented and arguments were made, the Administrative Law Judge issued a non-final order that our client had presented evidence and arguments to meet his burden of proof that the initial decision to not renew his license was unreasonable. Based upon this non-final finding, the final order by the Insurance Commissioner included a reversal of the initial denial, and a probationary license was granted for our client.
We are proud of the work done in both of these cases in tandem with the IDOI and the results obtained for these clients during the second quarter of 2023!
Author J. Mark McKinzie
Mark joined Riley Bennett Egloff LLP as a Partner following a distinguished career in corporate insurance law, rising to be Senior VP, General Counsel, and Secretary for the Meridian Insurance Companies overseeing the claims and claim litigation functions, all 1st party litigation, including any allegation of bad faith by the company and serving in that position prior to the company’s sale and merger with State Auto Insurance of Columbus Ohio.
With his business and legal background and extensive and varied experience, having represented plaintiffs and defendants in a wide range of practice areas, Mark possesses and consistently demonstrates keen insight and pragmatic, resourceful solutions beneficial to the parties.
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Posted on July 20, 2023, by J. Mark McKinzie